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Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
 Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dry bulk freight rates. As we edge closer to the end of 2015 however, it seems that Chinese iron ore imports will follow suit and start declining, as the struggling steel industry, both in China and globally will limit iron ore seaborne trade. As such, it will take a significant net decline of the global dry bulk fleet, in order to offset this declining demand.
According to the latest weekly report from shipbroker Allied Shipbroking, “the steel market has made its way into the spot light this week, as several European states have increased the pressure on action to be taken against the excess dumping of “cheep” Chinese steel into their markets. The supply glut has been around for some time now and while global steel production has been on the decline for the most part of 2015, it seems as though the market is still out of balance and heavily over supplied”.
George Lazaridis, Head of Market Research & Asset Valuations with Allied noted that “Chinese steel production for the year up until September has been down by 2% compared to the same period last year and with China representing just over 50% of the global steel production, this is a considerable drop in the total volume. However it seems that in an effort to slow down its production more gradually over the course of the year, China has been pushing a large portion of its excess supply onto other markets, causing a drastic drop in the price of steel while hoping to retain if not increase its market share. This has hit several of the higher costs producers, especially in Europe and the U.S. The U.S. and other countries have already taken steps in order to prevent market distortions brought about by this “artificially” low priced steel from China, while pressure has been now mounting from the U.K and other E.U. member states for similar action to be taken within Europe as well”.
He added that “with the Chinese steel industry already noting a strong decline this year and with trade restrictions now looking likely to push it into further decline, it looks as though we will likely see a drop in trade not only for finished steel products out of China but also in imports of both Iron ore and coking coal, with both these imports being the main trades for the Capesize sector. A key point to note here is that despite the slowdown in steel production this year, China has still managed to keep iron ore imports on the rise, using the opportunity of the currently low commodity prices to not only lower the average price of the stockpiles it held, but also increase the total volume of those stockpiles in order to hedge any future upward shift in price. This has translated into an estimated 2% increase in the volume of iron ore imported into China since the beginning of the year. The issue is that this rise has proved to be grossly inadequate in keeping the freight market for Capes buoyant. The big losses in the volume of seaborne coal trade has proved costly and with less vessels now actively involved in carrying coal to China there has been an increase in available tonnage competing for the same amount of iron ore cargoes. What makes this even more dramatic is that it has been done despite the fact that the total capesize fleet has remained overall on par in terms of vessel numbers with what it was in the final quarter of 2014”. Lazaridis noted.
As such, “taking this into account and with expectations now for a further slowdown in steel production (the level of which will obviously be dependent on the severity of any new trade restrictions brought about in the market) this will surely detriment things further, something that will likely be reflected in the first quarter of 2016 which is seasonally a low point in the market. Couple this with the fact that demand for industrial commodities such as steel is not showing any potential for strong growth, as demand from major economies such as China, Europe and the U.S. has been in decline, it looks as though the Capesize market still has a considerably large re-balancing act to make moving forward and although the orderbook currently stands at 240 vessels (equivalent to 16% of the current fleet) the number of vessels which are 20 years old or over are only 116 “, Allied’s analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Economic Council, Georgia
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